Bankroll builder betting tips are an important element of your overall bankroll management strategy. Soccer betting is one area you can profit a lot especially when you can win maximum bets. To make a profitable career out of betting, you need to start by planning your bets. In this article, we will highlight exclusive tips to build your bankroll as well as effective bankroll building strategies.
- Before your start: Learn basic principles of bankroll management + Ideal Starting Bankroll
- Bankroll Building strategies: Read on and master techniques which help you grow your betting budget
- Bankroll management tips: A bunch of tips to further enhance your bankroll management skills
- Examples of How You Can Build Your Bankroll, including 10 to 1000 Bet Challenge
Best Betting Sites for Bankroll Building
What's in this article
- Best Betting Sites for Bankroll Building
- Bankroll Management meaning and why it matters
- The Ideal Starting Bankroll
- Using Units
- Tracking your Bets
- Bankroll Management Strategy
- Fixed Unit Model
- Percentage Model
- Potential Return Model
- Confidence Model
- Kelly Criterion Model\Proportional Betting
- The Full Kelly
- The Fraction Kelly
- The Constant Kelly
- Fibonacci Model
- Martingale Model
- D’Alembert Betting Theory
- Labouchere Betting System
- Bet Builder Tips
- The Concept of Value is Critical
- Wagers Based on Hope for ‘The Big Score’ Are Not the Best Option
- Study Every Odd to Find the Investment and Return
- Calculate the Amount You Need to bet Based on the Investment and Return Analysis
- Always Have a Long Term Sensibility
- Have a Fixed Budget for Betting
- Start Small
- Understand the Roles of Bet Builder Tips
- Buy Tips Only from Trustworthy Tipper
- Bankroll Management on a Losing Streak
- Bankroll Management on a Winning Streak
- Examples of How You Can Build Your Bankroll
- Utilizing the Bonuses Offered
- 10 to 1000 Bet Challenge
- Bankroll Builder FAQs
Bankroll Management meaning and why it matters
Nothing is more important for any successful bettor than the ability to achieve value not just once but consistently through every other season. But this only happens when a proper bank management strategy is in place. Your bankroll basically is the amount of cash you’ve set aside to wager on sports. Managing your bankroll is fundamentally about ensuring that your betting strategy is profiting. This begins with making quality picks and having a system in place so that you don’t drain your bankroll by putting an arbitrary amount on every other bet. This is how any bettor without strategy ends up losing money even when enjoying a good winning percentage. This happens when more money is going into losing bets than winning bets.
The Ideal Starting Bankroll
Many bettors think too hard about the ideal starting bankroll. However, there is no definite answer to this question. Wondering why? Well, everyone has their personal limits, some bettors will be able to allocate more money to games than others. Only you should remember one thing: while sports betting is much about luck and opportunity, the chance of losing is significant. Thus, you should be sure to deposit only that much you can afford to lose. But if you play well and stick with the basics of effective bankroll management, there is always a window to grow your bankroll.
Before getting started on bankroll building systems, let’s do some ground laying by introducing the concept of units. Sticking to the basics, we define a unit as the baseline amount a player will wager on a bet-to-bet basis. Breaking this down a little further, units offer the best insights around your profitability. It goes beyond what you lost or won, giving you the easiest way to evaluate yourself against other sports bettors. In general, a unit is one. This could be 2% of your total bankroll. Pushing this amount any higher exposes your bankroll to some real damage in case of a losing streak.
Tracking your Bets
Another important highlight is the need to track your bets. At the very least, the spreadsheet should help you keep track of dates, who you’re placing bets for and against, the number of units in a play, the spreadsheet/total//line among other key stats. This is really something, especially if you can have time for it. Tracking all these allows you to create a database of picks that can help you pinpoint your points of gain and loss. Do you do well betting against a particular team? Are you good with specific O/U totals? Or maybe favorites are coming forth at a rate more profitable than the underdogs. Having this data gives you significant insight into your strong and weak points. Tracking your bets lets you dig deeper into what you’re missing, and that’s how you become a good bettor.
Bankroll Management Strategy
Although several bankroll building strategies could come in handy when betting, you need to identify and work with what serves you best and goes along with your unique betting style. Picking a bankroll management strategy and sticking with it is how you get started in becoming a more profitable bettor, provided your wins occur above the break-even rates.
Fixed Unit Model
Fixed Unit Model is a great way just to get started if you’re a beginner in sports betting or if bankroll management system hasn’t really been your betting style even with the continued presence on the betting landscape. There is no complicated math here, and scope of variables is not overwhelming. You’re also looking at the most consistent bankroll management approach. Essentially, you’ll restrict yourself to wagering only one unit on any given pick regardless of your perceived confidence, your odds, or recent win or loss streak.
Ideally, it is vital to keep a unit size at 1% or 2% of the total bankroll. Assuming you have say $1,000 dedicated to sports betting for a whole season (and we must mention this right up front that sports betting isn’t some sort of quick rich scheme, so what you set aside should be only that amount you can comfortably and willingly lose). For a 1% unit size, you are looking at a total unit amount of $10(1000 x.01 = 10). This means $10 is the amount you’ll spend on each wager.
It’s also recommended that you set some milestones determining when the time is right to reassess your unit size. Perhaps you can tie it to every $100 or $250 increase in your bankroll. Whatever number you decide, remain consistent and work within your system. At one point, you may find yourself getting on a good winning streak, and the next feeling is nothing but unbeatable, so you choose to increase your unit amount. You soon find yourself struggling with the inevitable losing streak. This is commonly how good sports projectors incur losses despite the profitability attainable on a unit basis.
- Best way to keep track of wins/losses
- Simple and precise
- If you are lucky to win at a higher than break-even percentage, you will be in profits
- If you can strongly determine confidence, then it’s clear you’re not working at your best
- The amount you’ve won or lost isn’t a factor, meaning your wagers in the future may not conform to the initial 1% or 2% of your bankroll as determined
This model closely resembles the fixed model with the only difference being in the definition of your unit dollar. Instead of having a fixed amount, your unit dollar is taken as a percentage of your bankroll. This stays fixed much like in the fixed model. If you started with a $1000 bankroll with a percentage unit amount set at 1%, you'd have $10 as your initial wager. However, this is set to change every other time, reflecting the variation in your bankroll as you place bets. If you won $15, for instance, your new bankroll becomes 1015, and your new unit size becomes $10.15(1015 x 0.01 = 10.15).
Let’s say you lost 2 units in another round or $20.30 on your initial bankroll, so you have $994.70 as a new bankroll and $9.95(994.70 x 0.01 = 9.947) as your new unit size. This scenario clearly illustrates a 0.53% loss in your bankroll despite losing only 0.5 of a unit.
- Your bet stays at 1% or 2% of your bankroll of the amount you won or lost
- It seizes the advantage of winning streaks as you bet more
- You take more time recovering from losing streaks since you’ll be betting less
- Your overall profitability depends heavily on the timing of your wins
- The extra variables make your profitability more about luck
Potential Return Model
In the two preceding models, only bankroll is considered when determining wagers. In the potential return model, odds are taken into account such that you’re placing bets to win one unit and not to risk one unit. Let’s move to a few examples to get this point at home.
If you bet over or under, for instance, you’ll most probably win 0.91 of your bet amount (100/110 = 0.91). So, instead of betting 1 unit to earn 0.91, you’d bet 1.10 to earn one unit (1/0.91 = 1.099).
Let’s now say you bet underdog to win 1.20 of your wager or at +120. This means you’d now be risking 0.83 to win a unit (1/1.2 = 0.83). The potential Return model is working on the concept that favorites should be winners more often, meaning they’re less risky, while the inherently riskier underdogs often win less.
- Risk level is taken into account
- This method plays straight in your hand if you’re good at picking favorites, unlike the fixed method
- Your bet amount will vary with every other game regardless of your level of confidence
- If picking underdogs is your thing, you’re better off with the fixed method than this method
This is a variable model that introduces a new twist to the equation. Based on your confidence level in a particular wager, it makes sense that you want to risk multiple units (or wager to earn multiple units if you are considering a combination of this and the return model).
Depending on your risk aversion level, you could opt for a 1 – 3 or a 1 – 5 unit scale (we particularly recommend the 1 – 3 scale, unless there is some good amount of accuracy accorded to your confidence levels). If you’ve developed a great interest in the confidence model, we would recommend that you track your confidence level closely with everything else. This will enable you to keep track of the accuracy in your confidence level and decide with certainty if this is your route.
To adopt the confidence model, you basically have to assess your confidence in bets and decide if you should work with 1, 2 or 3 units. The higher your confidence, the higher you can go up the units scale. We would recommend a conservative 2 unit if you’re just getting started. This should be the case until time and accuracy push you to large wagers. Note that you also have the option to wager a half a unit. This is particularly advisable if you’ve come to like a heavy underdog with very slim chances of winning.
- With enough accuracy in your confidence levels, this model can be more profitable than fixed /percentage models in isolation
- Any inaccuracies in your confidence levels is a sure way to burn through your bankroll in half the time
Kelly Criterion Model\Proportional Betting
Kelly Criterion Model takes everything above into account and goes a little further. But there is a caveat that we need to put in the clear before breaking this model down. This is a model that only the best of the best will work with and achieve desirable results. To use Kelly Criterion model, you need to really be spot on when it comes to your projections. Having it any other way puts your bankroll at high risk. Kelly Criterion is more of academic. You’ll have to figure out exact periods that you believe a bet will win.
This is how the exact equation will appear:
Value = (win probability x decimal odds – loss probability)/ decimal odds.
Value is the bankroll percentage to be wagered, while decimal odds denote the odds of your probable returns.
Let’s consider a normal pick and a spread where -110 are your odds or 0.91 in decimal notation (100/110). If you expect your bet to win 55% of the time, the Criterion model will give you 5.5% or 0.055.
(0.91×55 – 45) / 0.91 = 0.055
This means that at just 55% of your spread bet, the model is saying to go for over 5% of your bankroll. Which sports bettor won’t be happy hitting 55% accuracy with picks against the spread. This model can also tell you to stake some insanely crazy amounts. If you see a match-up as 50/50 toss-up, for instance, but you have +125 odds on the underdog, this model tells you to bet 10% of your bankroll.
(1.25×0.50 – 0.5) 1.25 = 0.10
It’s clear that Kelly Criterion is a model that generates numbers mostly on the higher side. In fact, some are beyond what expert bettors would ordinarily recommend. However, various options are open for adaption to this model. There is a half or a quarter cut on the wager amount, for instance. In fact, we recommend going with the quarters until profitability is evident in the long-term.
It is worth noting that there are three different kinds of Kelly
- The Full Kelly
- The Fraction Kelly
- The Constant Kelly
The Full Kelly
As discussed in the example above, this method recommends a bet of over 50% of your bankroll. This can reduce your bankroll to dust in a short time, but in the case of a winning streak, this could be a goldmine.
The Fraction Kelly
This is a more conservative amendment to the Full Kelly method where you only wager a particular fraction of the recommended bet. It could either be Half Kelly (50%), Quarter Kelly (25%), or whichever percentage you wish.
Although the reduced rates could also decrease your winning percentage, the fractional Kelly method can also have better returns in the long run when compared to Full Kelly method.
The Constant Kelly
This is similar to the Full Kelly method and the only difference is that instead of recommending a percentage of a varying amount, this option recommends a percentage of a constant. For instance, rather than suggesting a 10% of an improving or diminishing bankroll, the Constant Kelly recommends 10% of a constant amount.
- Being spot on or conservative with your winning percentages will allow you to risk 2 or 3 units and be very profitable
- A bit complex for non-experts
- Many variables involved
- Not being spot on with your win percentages projection can lead to faster depletion of your bankroll
- Demands for next-level accuracy for profitability
Fibonacci betting model is built only on draws. The Fibonacci sequence of numbers 1, 1, 2, 3, 5, 8, 13 denotes the raise of the wagering stake from the bankroll. In this strategy, punters are advised to wager on a probability that rises above 2.618. According to this strategy, you have to wager again if you lose your bet and repeat the process until you profit your bankroll. For instance, having chosen Fibonacci strategy and specified your unit amount at say £20, you will have to move to the next Fibonacci number in the sequence if you lose your bet. You repeat this process until you hit a win. Once you’ve hit your win, the model advises you to go back 2 numbers down the sequence. If you were at 13 units at the time, you go back to £100 or 5.
- High profitability among experts
- When you place multiple bets on draws, there is a very minimal chance that you move to the next number in the Fibonacci sequence
This is a betting model that has been around for centuries now. Originally, Martingale model was intended for simple heads or tails betting games where you won when the coin landed head up and lost when it landed tail up. The strategy requires you to double your wager after every loss until you win. This is how you recover your bankroll and win profits equal to your original stake. Overall, seasoned bettors find this model as potentially rewarding since the stakes will favor them at some moment.
If you have allocated yourself a unit of say £1, and you win on the initial bet, you’ll basically continue wagering your £10. If you lose, you start doubling your unit with every losing bet. The model says that a win is bound to come eventually and you’ll profit 1 unit from that wager. However, imagine losing 10 bets in a row bringing your bankroll down by a whole £5120. This is an amount even risk-loving players will find hard to part with. The only thing that you get to wish for in this model is for the odds to be ever in your favor.
- Potentially rewarding for people with experience
- The model can be harmful to your bankroll because at some point you can reach your limit and you won’t recover from your losses
D’Alembert Betting Theory
Although similar to Martingale strategy, D’Alembert system is designed to increase your bets more slowly. This means that the slower rise in your stakes upholds a less likelihood of your wagers becoming difficult to bankroll. However, on the other hand, this could also mean that you will not manage to recover from your losses as quickly as the Martingale. But on the brighter side, this strategy effectively mitigates your risk.
Ideally, this strategy is based on the concept that there is an equilibrium that can be obtained in even money bets. Thus, you should win the same number of bets you lose. With this assumption, you are required to come up with a percentage of your total bankroll to use on each wager. There is no specific percentage, but we highly recommend you stick with 1-5% of your bankroll for every wager.
For example, with a $1000 bankroll, 3% on your first bet will be $30. If you lose, you will increase your wager by one unit base ($30), which means your next bet will be $60. This is to say, for every loss, you will increase your wager by one base unit until you win. In the case of a win, you will be required to reduce your bet by one base unit.
- It is quite effective in reducing risk
- You will recover from your losses slowly
- May not be a profitable strategy in the long run
Labouchere Betting System
With the Labouchere system, your bet is split into several wager amounts. For example, if your target is to win $100, you will break this number into small amounts such as $10, $20, $40, $10, $20. When you place your bet, your potential winnings are required to be your first unit plus your last unit. In our case, this should be $10+$20=$30.
Now, let’s assume you won your first wager and made $30. You will then cross off the $10 at the beginning and the $20 at the end. However, if you lost, you will add the $30 you lost to the last $10. This means that your wager will be $40.
Ideally, with the Labouchere system, you are required to keep adding your wager to the end if you are losing. During a winning streak, you’ll cross off both the first and last units.
- Quite favorable to high rollers.
- Not suitable for bettors with small bankrolls
- It becomes costly fast which can severely impact your bankroll
Bet Builder Tips
Now when you know what the best bankroll management strategies are let’s move on to some tips which will further enhance your betting skills and let you win big.
The Concept of Value is Critical
Your betting experience will be in shambles if you really don’t understand this concept. Yes, you could be sure that a 1.25 favorite is going to win, but are these odds valuable? As it is the case with casual bettors, you will hear them say “there is no way this team can lose.” Well, in as much as this could be the case, is the probability of them winning better than the odds on offer?
Such a mindset is like buying an over-priced gadget just because you like it.
Value is an important and simple concept but most of the betting public does not fully understand it. This is reason why the betting sites and the minority of the gamblers end up winning in most cases.
If you can spot odds that are too high and capitalize on such chances, then you will get value for your bets. Ideally, spotting value is the ability to judge probabilities more correctly than the market does. This is hard to do for every game and sport, which is the reason why you should skip matches with unfavorable odds.
Wagers Based on Hope for ‘The Big Score’ Are Not the Best Option
Bets such as Accumulators, Multi-bets, and Teasers offer the promise for the big pay, but you should know when and when not to bet them. You should consider them when you have gone through and identified great value.
For example, if you are looking to place a multi-bet of 4 legs where you are to get the full price even money odds of 2.00 for every leg, this means that the odds of this multi bet will be 16.00. Now let’s take a case where you are offered 1.90 for ‘even money’ where the bookie will be taking 5%; the odds of the 4 leg multi will just be 13.00. Thus, they will be taking out close to 19% of the full price of the bet.
Nonetheless, if you are lucky to locate true value, a multi-bet can be highly rewarding.
Study Every Odd to Find the Investment and Return
If you break down an odd, you discover that it clearly points out the amount it carries and the underlying reward. A general betting rule is that highest odds come with the highest reward. You also need to check how much it can cost to get bankroll builder tips for those expensive odds.
Calculate the Amount You Need to bet Based on the Investment and Return Analysis
Know the exact amount you need for a bet. This is obtained by adding the odd price to tip price. What you have now is your betting price. It’s your total investment on a wager. Now deduct this betting cost from the total cash reward and what you remain with is the winning amount. This should be much higher than the amount you spend on a bet.
Always Have a Long Term Sensibility
If you are looking to be successful in betting, you need to have a long term plan. You can only achieve this by building your betting bankroll, then purpose to steadily increase the amount you bet on each game. Over time, you will manage to make decent profits from your bets. However, you should always remember that this takes time and patience. You will have to deal with swings, winning, and losing streaks all in equal measures. But what will look like a slow growth will, in the long run, add up to exponential earnings.
Have a Fixed Budget for Betting
Determining the amount to deposit into your sportsbook account is key, and this solely depends on your personal finances and your comfort level. We insist again that don’t ever wager more money than you can afford to lose. Different bettors have different definitions of how much they can “afford to lose.” However, you generally need to be realistic when examining your personal finances and determining how much you can willingly and comfortably hand over to a betting site online.
It’s better to start out on a small bet than spending your entire fortune on a huge bet. This way, you’ve set aside some money to spend on future bets. Also, you will take some time to refresh and approach betting from a different standpoint. It takes a lot of homework to enjoy the fruits of planned betting finally.
Understand the Roles of Bet Builder Tips
For successful sports betting, you need to break odds, and this can only be achieved through training. It takes a mathematical approach to break bets. The entire odds breaking process revolves around calculating the winning likelihood of competing teams. It’s okay to go alone but be sure that you’ve mastered the math behind odds breaking.
Buy Tips Only from Trustworthy Tipper
Buying tips is a worthy betting option, but only when you know the source of the tips. Not every tip seller offers you the right advice to help you win. The presence of various tipsters in the market gives you the chance to look around for the best tipster. Know how to settle for the right tipster. It’s not enough to just look at the experience of some random tipster to decide.
Bankroll Management on a Losing Streak
Finding yourself on a losing streak is something that happens to both experienced and beginners alike. However, being a professional bettor includes having a mindset and skills to rise above the effects of losing streaks and protect their bankroll. Losing streaks can have some adverse effects on bettors who are just getting started in their gambling career. This calls for a lot of discipline and strategic bank management skills. It is the most sensible thing to do as a bettor to cut down unnecessary losses.
Bankroll Management on a Winning Streak
You still have to watch your bankroll when you have been winning for quite some time in a row. The excitement can sometimes be overwhelming to the point that it overshadows your judgment, takes away your discipline and eventually claim your bankroll. When you have a functional bankroll management system keeping you by, you’ll undoubtedly be protected from such things as raised or rushed bets. We’re not against raising your stake along with the growing bankroll. This is perfectly normal and. in fact a strategy of its worth. But if you start increasing your wagers while on a winnings streak, you are exposing your bankroll to a significant decline in the event of losses.
Bankroll management is thus the buffer for every bettor. It helps you overcome a losing streak, giving you a fresh mind to arrive at rational and thought-through betting decisions. The ability to practice responsible betting comes handy in the long-term. This makes effective bankroll management a skill that every punter should strive to achieve.
Examples of How You Can Build Your Bankroll
Read on to see examples how to take advantage of your freshly acquired bankroll building skills.
Utilizing the Bonuses Offered
It’s possible to drastically grow your bankroll by taking advantage of juicy welcome bonuses that many bookies offer upon making an initial deposit. Sometimes you can even receive double or triple your deposit amount. It’s, therefore essential to identify a sportsbook with rewarding bonuses and sign up, especially when it’s possible to receive a free bet.
Something to remember regarding these bonuses is the bonus code required for you to unlock these bonuses. Make sure you have it right with this code so that you don’t miss out on some impressive perks, which you won’t claim later. Also remember that while bonuses offer a great way to build your bankroll right off the bat, there are rollover requirements which restrict withdrawals until you’ve played with your deposit and bonus money for a specific number of times.
10 to 1000 Bet Challenge
This is the most common betting challenge among bettors. In this case, you are expected to start small and progressively increase over time. Every win obtained is added to the betting amount where you take your initial stake, plus all of your winnings and reinvest it into another bet.
There are two approaches used in this challenge;
- Choose bets with around 1/2 (1.5) odds and win 12 consecutive times
- Wager on bets that have odds of approximately 1/3 (1.33) and win 17 bets in a row
Ideally, when you bet in higher odds, you will have fewer times to turn the bet to reach the goal of $1,000. The odds and consecutive odds mentioned above are just examples, and if you find a bet with higher odds and are confident in the chances of winning, then you should place your bet.
Bankroll Builder FAQs
What is bankroll management?
Bankroll management is a combination of strategies that are aimed at protecting you from losses and growing your bank balance. This starts with having a set budget, establish important guiding principles around betting and adhering to these principles.
What are the effects of poor bankroll management?
Having poor bankroll management is a sure way to end up a frustrated bettor. Since you haven’t laid out a system that spells out the right thing to do for a given situation in betting, you are likely to make wrong choices that will negatively impact your bankroll.
Should I maintain my bankroll when I’m just starting out?
Yes. As a sports bettor, you should always be conscious of your bankroll regardless of how often or how much you intend to wager. To be successful, you need to blend your knowledge in sports and research with some level of mathematical precision.